加强资产负债管理应变债券利率风险

Strengthen assets/liabilities management to cope with the risk of bond interest rate

今年以来国内债市涨势如虹,尽管下半年资金富裕的格局不太会改变,但当前债市利率风险仍不容投资者忽视。首先宏观经济形势不支持债券收益率继续走低;其次受保持贷款合理增速、货币政策独立性加强等因素的影响,资金面也存在一定的变数。因此,商业银行要在当前利率环境下加强对资产负债的匹配管理。

The domestic bond market has witnessed a bull market this year. Though the ample supply of fund would not change in the second half of the year, the current risk of bond interest rate cannot be neglected. The macro economic situation will not let the bond yield continue to fall down. Besides, influenced by the rational growth in loans, enhancing independence of monetary policies, uncertainties exist in fund. Thus, commercial banks should strengthen the matching of assets and liabilities under the current interest rates.